India Crypto Exchange

Best Bitcoin Trading Platform

US Dollar: Chart Setup Hints At Pullback

US Dollar: Chart Setup Hints At Pullback

Talking Points:

  • US Dollar Technical Strategy: Holding Long via Mirror Trader Basket **
  • Support: 11937, 11888, 11829
  • Resistance: 11985, 12044, 12149

The Dow Jones FXCM US Dollar Index moved upward as expected after producing a bullish Morning Star candlestick pattern. Negative RSI pergence warns a pullback may be ahead however. A daily close below trend line support at 12021 exposes the 61.8% Fibonacci expansion at 11985. Alternatively, a move above the 76.4% level at 12044 clears the way for a test of the 12141-49 area (100% Fib, March 13 high).

Our long-term fundamental outlook calls for a broadly stronger US dollar against its major currency counterparts. With that in mind, we are holding long via the Mirror Trader US Dollar currency basket.

US Dollar Daily Chart

Original post

0 0 votes
文章评分
Subscribe
Notify of
guest
0 评论
Inline Feedbacks
View all comments